MIRA
INFORM REPORT
|
Report Date : |
11.05.2011 |
IDENTIFICATION DETAILS
|
Name : |
KRIS FLEXIPACKS PRIVATE LIMITED (w.e.f. 2007) |
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|
|
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Formerly Known
As : |
NIKITA PLAST INDUSTRIES PRIVATE LIMITED |
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|
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Registered
Office : |
65, Shanti Industrial Estate, S N Road, Mulund (West), Mumbai-400080, |
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|
|
Country : |
31.03.2010 |
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|
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Financials (as
on) : |
06.03.2007 |
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|
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Date of
Incorporation : |
11-168369 |
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|
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Com. Reg. No.: |
U25209MH2007PTC168369 |
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|
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Capital
Investment / Paid-up Capital : |
Rs.100.000 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
MUMN14534C |
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|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
AACCN4672Q |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer of High Quality Packaging Products. |
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No. of Employees
: |
50 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (49) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 2200000 |
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|
Status : |
Satisfactory |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Subject is a well established company having fine track. Trade
relations are reported as fair. Business is active. Payments are reported to be
usually correct ad as per commitments. The concern can be considered normal for business dealings at usual
trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
INFORMATION PARTED BY
|
Name : |
Mr. Vijay |
|
Designation : |
Accounts Officer |
|
Contact No.: |
91-22-67742222 |
|
Date : |
10.05.2011 |
LOCATIONS
|
Registered Office : |
65, Shanti Industrial Estate, S N Road, Mulund (West), Mumbai – 400
080, |
|
Tel. No.: |
91-22-67742222 / 25907080 |
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Fax No.: |
91-22-67742222 / 67742399 / 67973894 |
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E-Mail : |
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Website : |
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Area : |
They have 6 to 7 Galas in same premises |
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Location : |
Owned |
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Factory : |
Located at: · · · Himachal Pradesh |
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Branches : |
Located at:
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DIRECTORS
As on 02.08.2010
|
Name : |
Mr. Shailesh Gulabchand Sheth |
|
Designation : |
Chairman cum Managing Director |
|
Address : |
701, 1002, |
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Date of Birth/Age : |
12.01.1960 |
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Qualification : |
B.Com |
|
Date of Appointment : |
06.03.2007 |
|
Din : |
00206159 |
|
Other Directorship : |
CIN of company: U25202MH2007PTC166756 Name of the company: Packaging Destinations Private Limited Designation: Director CIN of company: U70102MH2006PTC166273 Name of the company: Packaging Realtors Private Limited Designation: Director CIN of company: U45201MH2006PTC166272 Name of the company: Packaging Properties Private Limited Designation: Director CIN of company: U25202MH2007PTC166757 Name of the company: Packaging Flexi Business Private Limited Designation: Director CIN of company: U74950MH1990PLC058775 Name of the company: Packaging Warehouse Limited Designation: Director |
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Partnership held
in Partnership firm : |
Nikita Plast Address: 64, Shanti Industrial Estate, |
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|
|
|
Name : |
Mr. Rajesh Gulabchand Sheth |
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Designation : |
Whole Time Director |
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Address : |
1002, |
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Date of Birth/Age : |
23.10.1961 |
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Qualification : |
B.Com |
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Date of Appointment : |
06.03.2007 |
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Din : |
00223733 |
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Other Directorship : |
CIN of company: U25202MH2007PTC166756 Name of the company: Packaging Destinations Private Limited Designation: Director CIN of company: U70102MH2006PTC166273 Name of the company: Packaging Realtors Private Limited Designation: Director CIN of company: U45201MH2006PTC166272 Name of the company: Packaging Properties Private Limited Designation: Director CIN of company: U25202MH2007PTC166757 Name of the company: Packaging Flexi Business Private Limited Designation: Director |
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|
|
|
Name : |
Mr. Viresh Gulabchand Sheth |
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Designation : |
Whole Time Director |
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Address : |
1002, |
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Date of Birth/Age : |
28.08.1964 |
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Qualification : |
B.Com |
|
Date of Appointment : |
06.03.2007 |
|
Din : |
00217977 |
|
Other Directorship : |
CIN of company: U25202MH2007PTC166756 Name of the company: Packaging Destinations Private Limited Designation: Director CIN of company: U70102MH2006PTC166273 Name of the company: Packaging Realtors Private Limited Designation: Director CIN of company: U45201MH2006PTC166272 Name of the company: Packaging Properties Private Limited Designation: Director CIN of company: U25202MH2007PTC166757 Name of the company: Packaging Flexi Business Private Limited Designation: Director CIN of company: U25202MH1999PTC118423
Name of the company: Miraaj Polyplast Private Limited Designation: Director |
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|
|
|
Name : |
Mr. Narayan Ramanath Sharma |
|
Designation : |
Director |
|
Address : |
7, Gaurav Apartment, |
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Date of Birth/Age : |
23.03.1950 |
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Date of Appointment : |
17.09.2007 |
|
Din : |
00043668 |
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|
|
|
Name : |
Mr. Sanjay Mansukhlal Chitalia |
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Designation : |
Director |
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Address : |
807/ 808, Vindyachal, |
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Date of Birth/Age : |
16.02.1961 |
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Date of Appointment : |
17.09.2007 |
|
Din : |
01799426 |
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|
|
|
Name : |
Mr. Pankaj Vasantlal Sanghavi |
|
Designation : |
Director |
|
Address : |
Row House No.1, Divya Swapana Co-Operative Housing Society, |
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Date of Birth/Age : |
04.05.1955 |
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Date of Appointment : |
17.09.2007 |
|
Din : |
01072555 |
KEY EXECUTIVES
|
Name : |
Mr. Vijay |
|
Designation : |
Accounts Officer |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 02.08.2010
|
Names of Shareholders |
|
No. of Shares |
|
Shailesh Gulabchand Sheth |
|
2700144 |
|
Rajesh Gulabchand Sheth |
|
1349972 |
|
Viresh Gulabchand Sheth |
|
1349972 |
|
Packaging Destinations Private Limited, |
|
1599970 |
|
Packaging Flexi Business Private Limited, |
|
699988 |
|
Packaging Properties Private Limited, |
|
699988 |
|
Varsha Sheth |
|
799982 |
|
Aarti Sheth |
|
399992 |
|
Tina V Sheth |
|
399992 |
|
Total |
|
10,000,000 |
As on 02.08.2010
|
Category |
Percentage |
|
|
|
|
Bodies corporate |
30.00 |
|
Directors or relatives of Directors |
70.00 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer of High Quality Packaging Products. |
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Products : |
· Shrink
Sleeves · Garment
Poly Bags · Industrial Poly
Bags · Retail Bags · Plastic Hangers · Wooden Hangers · Metal Hangers · Laminates · LD Shrink · Wrap-around
Labels · Combi Pack · Shrink Tunnel · Moulded Products · Soft and Rigid
PP/PVC Boxes
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Exports : |
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Products : |
Packing Products |
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Countries : |
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Terms : |
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Selling : |
L/C / Cash / Credit / (30 days / 60 days / 90 days) |
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Purchasing : |
Cash / Credit / (30 days / 60 days / 90 days) |
GENERAL INFORMATION
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No. of Employees : |
50 (Approximately) |
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Bankers : |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
K A Gandhi and Associates Chartered Accountant |
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Address : |
14-B, Vaibhav, 1st Floor, Corner of M G and S L R Mulund
(West), Mumbai – 400 080, |
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Tel. No.: |
91-22-25675205 / 25686061 |
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Fax No.: |
91-22-25686061 |
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PAN No. : |
AAJFK1030F |
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Joint Ventures : |
Kris Etiket ve ambajaj sanayai Limited |
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Associates/Subsidiaries : |
CIN No.: U74950MH1990PLC058775
CIN No.: U25208MH2007PTC168522
CIN No.: U25209MH2007PTC168539
CIN No.: U25203MH2007PTC168642
CIN No.: U25209MH2007PTC168540
CIN No.: U25209MH2007PTC168768
CIN No.: U25209MH2007PTC168569
CIN No.: U74999MH2007PTC168682
CIN No.:
U25202MH1999PTC118423
|
CAPITAL STRUCTURE
As on 02.08.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
10,000,000 |
Equity Shares |
Rs.10/- each |
Rs.100.000 Millions |
|
5,000,000 |
Preference Shares |
Rs.10/- each |
Rs.50.000 Millions |
|
|
Total |
|
Rs.150.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
10,000,000 |
Equity Shares |
Rs.10/- each |
Rs.100.000 Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
100.000 |
100.000 |
100.000 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
452.602 |
333.173 |
253.247 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
552.602 |
433.173 |
353.247 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
775.011 |
767.860 |
629.387 |
|
|
2] Unsecured Loans |
80.130 |
50.625 |
54.355 |
|
|
TOTAL BORROWING |
855.141 |
818.485 |
683.742 |
|
|
DEFERRED TAX LIABILITIES |
17.623 |
13.417 |
18.302 |
|
|
|
|
|
|
|
|
TOTAL |
1425.366 |
1265.075 |
1055.291 |
|
|
|
|
|
|
|
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APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
670.553 |
663.526 |
580.788 |
|
|
Capital work-in-progress |
6.435 |
0.406 |
20.101 |
|
|
|
|
|
|
|
|
INVESTMENT |
69.082 |
68.581 |
47.737 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
249.068
|
209.791
|
124.387
|
|
|
Sundry Debtors |
536.667
|
468.900
|
367.483
|
|
|
Cash & Bank Balances |
14.761
|
20.653
|
32.254
|
|
|
Other Current Assets |
0.000
|
0.000
|
0.000
|
|
|
Loans & Advances |
86.576
|
74.902
|
45.736
|
|
Total
Current Assets |
887.072
|
774.246
|
569.860
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
179.284
|
194.085
|
121.349
|
|
|
Other Current Liabilities |
25.680
|
40.546
|
41.722
|
|
|
Provisions |
2.812
|
7.053
|
0.124
|
|
Total
Current Liabilities |
207.776
|
241.684 |
163.195
|
|
|
Net Current Assets |
679.296
|
532.562 |
406.665 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
1425.366 |
1265.075 |
1055.291 |
|
PROFIT & LOSS
ACCOUNT
69.869
|
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
2043.182 |
1677.549 |
|
|
|
Other Income |
|
6.552 |
1.134 |
|
|
|
TOTAL (A) |
|
2049.734 |
1678.683 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Material |
|
1458.873 |
1190.721 |
|
|
|
Manufacturing Expenses |
|
64.574 |
53.026 |
|
|
|
Staff Cost |
|
83.295 |
75.150 |
|
|
|
Other Expenses |
|
89.348 |
67.219 |
|
|
|
Selling Expenses |
|
69.869 |
61.908 |
|
|
|
Accretion/ Decretion in stock |
|
(6.066) |
(10.202) |
|
|
|
TOTAL
(B) |
|
1759.893 |
1437.822 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
|
289.841 |
240.861 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
|
91.654 |
105.979 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
|
198.187 |
134.882 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
|
50.990 |
46.427 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
|
147.197 |
88.455 |
|
|
|
|
|
|
|
|
|
Less |
TAX (I) |
|
29.230 |
18.802 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-I) (J) |
|
117.967 |
69.653 |
|
|
|
|
|
|
|
|
|
Add / Less |
SHORT (EXCESS)
PROVISION FOR EARLIER YEARS |
|
1.462 |
0.129 |
|
|
|
EXCESS DEFERRED
TAX CHARGED IN EARLIER YEARS |
|
0.000 |
10.402 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX |
|
119.429 |
79.926 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
|
180.944 |
101.018 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
|
300.373 |
180.944 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Fob Value of Exports |
|
60.412 |
57.516 |
|
|
TOTAL EARNINGS |
|
60.412 |
57.516 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
|
378.199 |
129.932 |
|
|
|
Capital Goods |
|
14.101 |
29.941 |
|
|
TOTAL IMPORTS |
|
392.300 |
159.873 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
|
11.94 |
7.99 |
|
|
Particulars |
|
|
31.03.2011 |
|
Sales Turnover |
|
|
2300.000 |
Expected Sales (2011-12) : Rs.2500.000 Millions.
The above information has been parted by Mr. Vijay.
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
3.03.2008 |
|
PAT / Total Income |
(%) |
5.83
|
4.76 |
-- |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
9.45
|
6.15 |
-- |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.27
|
0.20 |
-- |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.92
|
2.45 |
2.40 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
4.27
|
3.20 |
3.49 |
LOCAL AGENCY FURTHER INFORMATION
Details of Sundry Creditors:
|
Particulars |
31.03.2010 (Rs. in millions) |
31.03.2009 (Rs. in millions) |
31.03.2008 (Rs. in millions) |
|
Sundry creditors
capital |
31.574 |
37.186 |
10.550 |
|
Sundry creditors
others |
147.710 |
156.899 |
110.799 |
|
Total |
179.284 |
194.085 |
121.349 |
BUSINESS OVERVIEW:
The Directors report that despite this year
being the year of gIobal recession, which adversely affected the economies across the globe, more particularly during
the first half of the financial year 2009-10, the year under report delivered
good results.
During the year, the Company earned total income of Rs. 2052.400 Million
as compared to that of the Rs.
1688.900 Million for previous year. The Profit after Tax of the Company was Rs.
119.400 million as compared to that of Rs. 80.000 million
of the previous year. Earning per equity share was increased from Rs. 80.000 million to Rs. 119.400 million
Bankers Charges
Report as per Registry
|
Corporate
identity number of the company |
U25209MH2007PTC168369 |
|
Name of the
company |
KRIS FLEXIPACKS PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
65, Shanti Industrial Estate, S N Road, Mulund (West), Mumbai – 400
080, |
|
This form is for |
Creation of
charge |
|
Type of charge |
Movable Property
(not being pledge) Immovable
Properrty |
|
Particular of charge
holder |
The Saraswat Co-Operative Bank Limited, SME Vikhroli Branch, Prabhat
Bhavan, LBS Marg, Vikhroli West, Mumbai – 400 079, Maharashtra, India E-Mail: njbhatia@rediffmail.com |
|
Nature of
description of the instrument creating or modifying the charge |
Agreement of
Hypothecation of Movable Property Supplementary
Recording Letter Evidencing Deposit of Title deeds |
|
Date of
instrument Creating the charge |
25.01.2011 |
|
Amount secured by
the charge |
Rs. 64.000 millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest:
10.5%p .a or at such rate as maybe determined by the bank from time to time Terms of Repayment:
on demand or by 25.01.2011 if the same is not demanded earlier Margin: 20% in
bank's favour Extent and
Operation of the charge: This is term loan facility with multi line credit facilities
with the term loan limits viz Buyer credit, foreign currency loan , letter of
credit against
machinery: Rs
28.000 million against immovable
property: Rs 36.000 million Total term loan
facility: Rs 64.000 million |
|
Short particulars
of the property charged |
Hypothecation of
machinery tangible movable property (both present and future) belonging to
the borrower and lying and being at borrower place of business at 64-65,
Shanti Industrial Estate, S N Road, Mulund West Mumbai 400080 or where ever
else the same maybe. Mortgage
by deposit of title deed property lying , being and situated at Gala no 65,
Shanti Industrial Estate, S NRoad Mulund West, Mumbai , Gala no 261 Shanti
Industrial Estate, S N Road, Mulund West Mumbai, land and building
constructed on plot no 23/4, Uruvaiyaru Village, Villianur Commune,
Pondichery, Unit no 64 in Shanti Industrial Estate, S N Road, Mulund West,
Mumbai , land and building constructed on Plot no 43-45 Daman Indutrial
estate situated within the village Ringanwada in village Panchayat
Jurisdictions of Dabhel Taluka Daman District Daman, Land and building on
Plot no 29A, Somnath Indutrial Estate, Dabhel Daman , Gala no 106, Shanti
Industrial Estate, S N Road, Mulund West, Mumbai, land and building
constructed on plot bearing survey no
185/5(22), 185/6(23), 185/7(24) and 185/8(25) in the village Bhiampure at
Daman, land and building constructed there on land khasara no 572/ 573/ 574/576/581/610
Kitas 7 situated in village Khera Tehsil Nalagarh Solan Himachal Pradesh Unit
no 207, second floor ,Shanti Industrial Estate, S N Road, Mulund West, Mumbai
,land and building constructed on plot no 142A/54 in the Noida Export
Processing Zone sub registrar Noida registration District Gautam Budha Nagar,
land building constructed on plot no 360/3 situated at village Kanchigaon
Nani Daman, Plot no 29B Somnath Industrial Estate, Somnath Road, Village
Dabhel Daman , Gala no 204, Shanti Industrial Estate, S N Road, Mulund
Mumbai, Land and building situated at Door No 22C Ranganathapuram First
Street, Tirupur Tamilnadu solely belonging to the company |
CONTINGENT
LIABILITIES:
|
Nature of
Liability |
31.03.2010 (Rs.
in millions |
31.03.2009 (Rs.
in millions) |
|
Central Excise Duty Demand : Matters in Appeal – Duty and Penalties Show Cause Notice – Duty and Penalties |
1.404 0.653 |
1.404 0.274 |
|
Income Tax Demand in Appeals |
13.558 |
4.236 |
|
Claims Against the company Not acknowledge as debt |
4.400 |
4.400 |
|
Unexpired Bank Guarantees |
10.500 |
6.500 |
|
Unexpired Letter of credit (including buyers credit) |
155.150 |
157.496 |
|
Total
|
185.665 |
174.310 |
Trade References:
- Coca Cola
India Inc.
- Benison and
Company Limited
- SM
Corporation,
FIXED ASSETS:
- Land
- Building
- Plant and
Machinery
- Office
Equipment
- Factory
Equipment
- Motor Car
- Motor Cycle
- Motor
Truck-Eicher
- Vehicles
- Furniture and
Fixtures
- Components
- Telephone
Instrument
- Electrical
Fittings
- Dies and
Moulds
- Air
Conditioner
- Trade Mark
- Software –
ERP
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON DESIGNATED
PARTY
No records exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or investigation
registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.44.73 |
|
|
1 |
Rs.73.21 |
|
Euro |
1 |
Rs.63.90 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
49 |
This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a composite
of weighted scores obtained from each of the major sections of this report. The
assessed factors and their relative weights (as indicated through %) are as
follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest capability
for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
- |
NB |
New Business |
- |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.